Description

HPCL clarifies no negotiations for Venezuelan crude procurement. L&T confirms public information regarding US nuclear market MoUs with Holtec and Clean Core Thorium.

Summary

Two companies provided clarifications on news articles as requested by stock exchanges. Hindustan Petroleum Corporation Limited (HPCL) denied reports about negotiating Venezuelan crude oil procurement, stating no such negotiations have taken place. Larsen & Toubro Limited (L&T) confirmed that information about their US nuclear market initiatives and MoUs with Holtec and Clean Core Thorium was already in the public domain through previous disclosures and earnings calls.

Key Points

  • HPCL denies any negotiations or events involving Venezuelan crude oil procurement
  • HPCL states the news article titled “HPCL seeks Venezuelan crude to boost heavy oil runs” is incorrect and out of context
  • HPCL attributes scrip price movement to general market conditions and investor sentiment
  • L&T confirms information was discussed in quarterly earnings call held on January 28, 2026
  • L&T’s MoU with Holtec for design and build solutions was signed on November 3, 2025 and publicly disclosed
  • L&T’s MoU with Clean Core Thorium Energy was signed on October 18, 2024 and available on company website
  • L&T announced Q3 and nine-month financial results for period ended December 31, 2025 on January 28, 2026
  • Both companies confirm no non-disclosure of material information to exchanges

Regulatory Changes

No regulatory changes announced. This circular represents routine compliance with exchange requirements for verifying news articles and clarifying market rumors.

Compliance Requirements

No new compliance requirements. Companies responded to exchange queries seeking clarification on news articles as per standard disclosure obligations under listing regulations.

Important Dates

  • January 28, 2026: BSE/NSE requested clarification from HPCL
  • January 28, 2026: L&T held quarterly earnings call
  • January 28, 2026: L&T submitted Q3 financial results to exchanges
  • January 29, 2026: Both companies submitted clarifications
  • January 29, 2026: Exchange requested L&T clarification on The Hindu Business Line article
  • November 3, 2025: L&T-Holtec MoU signed and disclosed
  • October 18, 2024: L&T-Clean Core Thorium MoU signed

Impact Assessment

Market Impact: Minimal. HPCL’s denial of Venezuelan crude negotiations removes speculative premium. L&T’s confirmation adds no new material information beyond what was already public.

Operational Impact: None. No operational changes announced by either company.

Investor Impact: Clarifications provide transparency and correct misinformation. HPCL investors should note no Venezuelan crude sourcing is under consideration. L&T investors are reminded of existing nuclear energy partnerships already in public domain.

Price Movement: HPCL attributes any price movement to general market conditions rather than the news article. L&T’s clarification relates to previously disclosed information, suggesting limited price impact from the article itself.

Impact Justification

Routine clarifications denying rumors (HPCL) and confirming already public information (L&T). No material events or regulatory changes. Price movements attributed to general market conditions.